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Saturday, December 27, 2014 

Stocks to Watch for December 29, 2014

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BlackBerry Ltd (NASDAQ:BBRY) In the past few months we have noticed that Blackberry's stock has been on a consistent bullish uptick in market valuation forming higher tops and higher bottoms, which is a very good signal. In addition, the technical chart also shows the golden cross, a very bullish formation. In the short-term, the stock is flagging just below the previous highs and going forward I think stock will break above this resistance level based on technical analysis (several bullish candlesticks formed on the daily and the weekly charts). If it breaks $11.07 it will absolutely fly into the 12 area right away. A quick look at the technical chart: 

1) Daily technical indicators are in bullish zones. 
2) MACD is moving above its signal line and is crossing the zero line. 
3) RSI is moving sideways but above its 50% level. 
4) Slow stochastic still climbing. 
5) All major EMAs are rising and the stock is trading above them. 
6) The accumulation/distribution indicator shows now that the stock is under strong accumulation.

Keep watching the stock next week. The daily shows a clear picture of the bull trend that price has been in since June.

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VirnetX Holding Corporation (NYSEMKT:VHC) has pulled back to its 50-day EMA on very low volume, where it seems to be finding support. If this support holds on a close basis, it will keep alive the chances of a rise to 6.30 once again immediately and will increase the probability of a breach of 6.85. Daily technical indicators are in bullish zones. The MACD is rising above its signal line in positive territory. The RSI is above its 50% level and all short-term EMAs are moving up and the stock is trading above them.

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3D Systems Corporation (NYSE:DDD) had a strong bounce this past Friday, closing the session above its 20-day EMA with a volume expansion. Although the stock is still weak, as MACD is below zero line and the stock is below 50-day EMA, if the stock can go up a few more days it will be back to bull market. In the short term, the trend is bullish. There could be good upside in the stock, so watch the stock closely on Monday.

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King Digital Entertainment PLC (NYSE:KING) had a bearish momentum on Friday but closed again above the 20-day EMA. There are no changes in my technical outlook and stock is still trapped inside a small bullish flag as you can see on my daily chart above. The 50 and 100-day EMAs are rising and the stock is trading above them. Until proven otherwise, my bias is to the upside. I still prefer a bullish scenario but need at least a movement above 16.77 to end the current bearish correction. In addition, the call volume is spiking in the January contracts. I smell news coming.....

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First Solar, Inc. (NASDAQ:FSLR) is showing early signs of reversal. A high volume move through the 45.7 price level would be buyable. The MACD is showing a positive divergence and the RSI is attempting to breach line 50 level forcing me to think the possibility of a trend reversal.

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Microvision, Inc. (NASDAQ:MVIS) I like this stock for a reversal. Technically speaking chart is reversing. All 3 technical indicators are showing positive divergences. The MACD continues to rise bullishly and recently crossed the zero line. RSI and Slow Stochastic are above its 50% level. CES 2015 will start on the 6th of January and I believe this stock could pop at any time before the event. Stay tuned.

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Rambus Inc. (NASDAQ:RMBS) is trapped in a tight range but it still trading above 200-day EMA. We need to break above 12 to extend gains further. The bias remains neutral to bullish in short-term.

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Twitter Inc (NYSE:TWTR) based on the current trend the stock looks to be on a short-term uptrend mode with the 9 & 13-day EMAs working as key support. The stock is currently resisted by its 20-day EMA, acting as a strong short-term resistence. With good volume, it might crack that level of resistence and break the recent consolidation. On watch.

During the day I tweet many times to my readers. I encourage everybody to subscribe AC Investor Blog twitter and newsletter, so you can receive my trade ideas and stock news in real time.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting AC Investor Blog.

AC

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For a beaten down stock, ARNA takes the cake. With increasing insurance coverage beginning 1/1/15 should get this stock off to a good start for the New Year!

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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